nikoschopen
2,824 posts
msg #53524
- Ignore nikoschopen |
7/26/2007 4:05:25 PM
Bob,
Thanks for the congratz, although trading and predicting are two very different biz. Whereas I'm dead serious about trading, I'm nowhere close to being serious about making projections. I do this mainly to amuse myself and annoy others. LOL
At any rate, I'm willing to assist others if they're inclined to accept my otherwise stripped-down service.
P.S. As I stated yesterday, my gut feeling is that the Dow and the S&P will likely retrace back down to their February high, respectively, which also not-so-coincidentally adds up to 10% pullback.
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nikoschopen
2,824 posts
msg #53561
- Ignore nikoschopen |
7/27/2007 9:59:16 AM
If the Dow is able to clear above 13,500, the bulls will effectively take the helm. I think that's only natural considering that bears need to take a breather before making another round of frontal assault.
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msummer2007
129 posts
msg #53562
- Ignore msummer2007 |
7/27/2007 10:01:05 AM
If we do not see a positive market this Friday, I shutter to think what Monday will look like. This should be very interesting today, difficult to hold any positions over the weekend. Good Luck all!!!!
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nikoschopen
2,824 posts
msg #53563
- Ignore nikoschopen |
7/27/2007 10:13:28 AM
Most likely they'll turn those circuit breakers on in full force. For a brief time yesterday, the Dow futures reached a limit down and the trading came to a screeching halt.
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nikoschopen
2,824 posts
msg #53564
- Ignore nikoschopen
modified |
7/27/2007 10:15:39 AM
Yay, we've passed 13,500! See you on the other side of the trading moon.
I've set my lofty price target at 13,630. Let's hope the rooster can come home to roost before ending up on someone else's dish.
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msummer2007
129 posts
msg #53565
- Ignore msummer2007 |
7/27/2007 10:39:28 AM
13,630 is a stretch even under a clear blue sky. We are facing the dog days of August, lower volume and the main problem still remains. This sub-prime issue is at it's infancy, I believe the problem is more severe than is being told. The sub-prime loans are what kept this economy going for the past few years. Here in Southern Florida you cannot give your house away. The inventory on the books exceeds 1.5 years. The prices have plummeted, but not nearly enough. As soon as some of this inventory gets cleared away, old inventory comes on the market. A leisurely car ride down the street, front lawns are littered with "For Sale Signs" price reduced. Prices have gone from rip off, to over priced, to a little expensive. We need to see it drop to reasonable price. LOL
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nikoschopen
2,824 posts
msg #53566
- Ignore nikoschopen |
7/27/2007 11:12:14 AM
Ure right, but it's also worth noting that anything in its "infancy" is by nature very deceptive. It tends to be the most elusive, if not deadly. I would not short this market to the hilt, not yet at least. It's usually the second leg down, following a brief revisit up to SMA(50), that will fatten up ure wallet.
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msummer2007
129 posts
msg #53567
- Ignore msummer2007 |
7/27/2007 11:34:09 AM
What a crock all these index reports are. Ever listen to the b&llsh%t they throw at you. The CPI report came in less than expected They tell you this with a smile on their face), when you factor out every possible meaningful detail from it. This is a sure sign that inflation is tame, and the Fed most likely will keep rates the same. Let me preamble a minute here, My auto insurance has more than doubled over the last 5 years, my real estate taxes, (you need a second mortgage to pay them). Health insurance which is totally ridiculous (and a perc for the wealthy), Food which has at least doubled over the last 2 years, gasoline as we all know. Fortunately for me I do not have to heat my house, but my father does and it costs as much as a new car payment. So let me think for a minute, there must be no inflation, that is what they are telling me. Then how come my wallet feels lighter every month???
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nikoschopen
2,824 posts
msg #53568
- Ignore nikoschopen |
7/27/2007 11:43:34 AM
LOL. I've been saying that for the last 6 months!
Today's bearish march isn't as hard and swift as yesterday. Hence I'm led to believe (fwiw) that the bears are running out of steam.
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heypa
283 posts
msg #53570
- Ignore heypa |
7/27/2007 12:16:22 PM
There isn't a single honest government report. As Ross Perot said "the devil is in the details".They are all biased to produce their desired result.
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